Which of the following is not true about Gross Domestic Product?
A)It includes only final goods and services.
B)It reflects production in a particular year.
C)Intermediate goods and services are excluded to prevent double counting.
D)It may be measured by totalling the spending by each group in society.
E)It includes transfer payments.

Question

Quizplus · Accepted Answer

Transfer payments, such as government welfare and subsidies, do not represent goods and services produced in the economy and are therefore not included in GDP calculations.

Which of the Following Is Not True About Gross Domestic